Did you vote? Ok, thanks for doing that. The reason I ask is because what you should spend is what YOU think you should spend. Ultimately you are the one who must set your individual budget. A diamond engagement ring has different meaning and value for everyone so the price will of course vary widely.

However,…

What does a bottle of wine have to do with engagement rings?…..Keep reading.

I can say that many a survey has been conducted on the average cost of an engagement ring over the years and recent numbers from 2015 sales averaged out somewhere between $3,300.00 and $6,000.00 (resources: TheWeddingReport.com, JCK Online, and TheKnot.com). Of these, the solitaire round brilliant of one carat weight still is the most popular choice.

However, there is a market for everything and you have to keep in mind that these numbers are rough. If you are searching for a diamond online, you still represent the minority of diamond shoppers (roughly 16%). Yet, online shoppers show common traits which include the appreciation of information. Chances are if you are searching for diamonds online, you also: price compare, research retailer and product reviews, and self educate. Does this sound like you?

From my experience, individual’s that want to purchase a diamond engagement ring online tend to be savvy shoppers and want to get the best value for money. They also tend to spend more…..What???? More on that in a bit….

I can tell you that none of the above matters when it comes to VALUE to the consumer.

“Diamonds represent value to the consumer when they get the best quality at a fair price.”

Over the years, I’ve had the pleasure of assisting thousands of people in their search for a suitable loose diamond for their given budget. I’ve helped individuals with budgets as low as $1,000 or as high as $200,000.00. At the end of the day, all consumers want the same thing – top quality for a fair price.

A fair price can be determined by searching the current market and seeing what other similar color/clarity/carat weight/shape diamonds are selling for. You can easily check this using any diamond search tool to compare prices. Now, I’m going to tell you something really crazy,….are you ready?

Diamonds don’t ever go ‘on sale’. There are no quality ‘cheap diamonds’ that are worth buying, or wearing for that matter. Suffice it to say, all dealers/retailers know what they are selling and ultimately what value it has and will expect to make some return on their investment. You will either overpay at the higher-end price points (in the case of luxury brands such as Tiffany’s where you are mainly paying for a name) or overpay at the lower-end price points (mall jewelry stores like Jared’s,Kay’s, Zales, etc generally sell low quality diamonds for a huge mark-up).

So, What’s The Real Story?

If you are searching for the best value diamond online – guess what, you’ll definitely find it. Why? Because shopping for diamonds online offers you the biggest inventory to search through at a time that’s convenient, without sales pressure and the ability to use your acquired education, price comparison, and retailer reviews to determine a top quality diamond that offers the best value for money. So what do most online diamond shoppers spend on their engagement rings?

I think you’ll agree with me that a novice trying to buy a diamond is a very stressful and arduous experience. Most people take months to research and eventually purchase a diamond engagement ring. You can either go it alone or work with a jeweler or retailer which will help your cause but ultimately be biased (they want you to purchase from them after all!).

But, there’s an easier way. Contact me with your loose diamond budget and diamond requirements and I’ll be happy to offer you a wide range of options and suggestions. I work with many different vendors and always offer the best value for money to my readers. For more on how we can work together to find your perfect diamond, please visit Ask Liz.

If you're in the market to buy a diamond, you need to get informed. Sign-up to ODBA's weekly diamond tips, advice and free diamond recommendations now. Don't be another victim. Enter your details below:

*Check your email for confirmation link after subscribing

?

Wish You Knew Where To Start?

Everyone wants the best cut, color, and clarity diamond for their budget.

Diamond Genie grants your three wishes and provides personalized recommendations only for YOU...